NET LEASED INVESTMENT OFFERING

Rite Aid (Sublet to Dollar General)
989 Athens Highway
Loganville, GA 30052 (Atlanta MSA)
...
TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING

TABLE OF CONTENTS

1)	

Confidentiality & Disclaimer

2)	

Executive Sum...
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING

CONFIDENTIALITY & DISCLAIMER
The information contained in th...
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING

EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for...
PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING

PROPERTY OVERVIEW
Price:

$1,794,453

Cap Rate:

10.60%

Net Operating I...
AERIAL
NET LEASED INVESTMENT OFFERING

AERIAL

N

ROSEBUD COMMONS
SHOPPING CENTER

CAMBRIDGE DOWNS
APARTMENTS

AY
HW D
IG ...
SITE PLAN
NET LEASED INVESTMENT OFFERING

SITE PLAN

N

OAD
UD R

B
ROSE

ATHENS HIGHWAY

www.bouldergroup.com
MAPS
NET LEASED INVESTMENT OFFERING

MAPS

www.bouldergroup.com
TENANT PROFILES
NET LEASED INVESTMENT OFFERING

TENANT PROFILES
Rite Aid (NYSE: RAD) is a national drugstore chain ranked ...
TENANT PROFILES
NET LEASED INVESTMENT OFFERING

TENANT PROFILES
Dollar General Corporation (NYSE: DG) operates as a discou...
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING

DEMOGRAPHIC COMPARISON REPORT

Population
Total Population
T...
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING

LOCATION OVERVIEW
Loganville is a city located primarily located in Walt...
CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING

CONTACT INFORMATION

666 Dundee Road, Suite 1801
Northbrook, IL 60062
...
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Triple Net Lease Property For Sale

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Triple net leased Dollar General for sale

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Triple Net Lease Property For Sale

  1. 1. NET LEASED INVESTMENT OFFERING Rite Aid (Sublet to Dollar General) 989 Athens Highway Loganville, GA 30052 (Atlanta MSA) www.bouldergroup.com
  2. 2. TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS 1) Confidentiality & Disclaimer 2) Executive Summary 3) Property Overview 4) Aerial 5) Site Plan 6) Maps 7) Tenant Profiles 8) Demographic Comparison Report 9) Location Overview 10) Contact Information www.bouldergroup.com
  3. 3. CONFIDENTITALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY & DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. www.bouldergroup.com
  4. 4. EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARY The Boulder Group is pleased to exclusively market for sale a single tenant Rite Aid property located in the Atlanta MSA fully leased to Rite Aid. Rite Aid is no longer operating at this location and the property is currently being sublet to Dollar General. The property benefits from its location along Athens Highway, a heavily trafficked roadway, and the Kroger grocery store across the street. Dollar General has been successfully operating at this location since 2010. Store sales for Dollar General have increased by 18.5% from 2011 to 2013. The property is located at the signalized intersection of Athens Highway and Rosebud Road. This intersection benefits from traffic counts in excess of 50,000 vehicles per day creating steady traffic flow near the property. The property has two points of ingress and egress, one along Athens Highway and the other on Rosebud Road. The property is located across the street from a Kroger anchored shopping center. There are over 112,000 people living within five miles of the property earning household incomes of approximately $80,000. The property is positioned between Atlanta and Athens along US Highway 78 approximately 25 and 35 miles from each respective city’s downtown. Rite Aid’s original lease term was for 20 years and the lease expires in October 2016. Rite Aid is a publicly traded company on the New York Stock Exchange (RAD), with a market capitalization of $4.5 Billion. Rite Aid has over 4,600 locations and employs 55,000 people. Dollar General’s sublease term is for 6 years and the sublease expires in October 2016. Dollar General is a publicly traded company on the New York Stock Exchange (DG), with a market capitalization of $19 Billion. INVESTMENT HIGHLIGHTS • Located within the Atlanta MSA • Positioned on a hard corner of a signalized intersection • Currently subleased to a strong performing Dollar General • 18.5% increase in Dollar General store sales from 2011-2013 • Located across the street from a Kroger grocery store • No landlord responsibilities • There are over 112,000 people living within five miles of the property earning household incomes of approximately $80,000 • Traffic volumes at the intersection of Athens Highway and Rosebud Road in excess of 50,000 vehicles per day • Low price per square foot www.bouldergroup.com
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEW Price: $1,794,453 Cap Rate: 10.60% Net Operating Income: $190,212 Lease Commencement Date: November 2, 1996 Lease Expiration Date: October 31, 2016 Tenant: Rite Aid (NYSE: RAD) Year Built: 1996 Lease Type: NNN Rentable Square Feet: 10,908 Land Size: 1.41 acres Subtenant: Dollar General (NYSE: DG) Sublease Commencement Date: August 31, 2010 Sublease Expiration Date: October 31, 2016 Sublease Rent Schedule: NOI $104,171 $113,552 www.bouldergroup.com Escalation Date 8/31/2015
  6. 6. AERIAL NET LEASED INVESTMENT OFFERING AERIAL N ROSEBUD COMMONS SHOPPING CENTER CAMBRIDGE DOWNS APARTMENTS AY HW D IG P S H 50 V N HE ,1 AT 40 RO S 10 EBU ,82 D 0 V RO PD AD SUMMIT CHASE ANIMAL HOSPITAL www.bouldergroup.com
  7. 7. SITE PLAN NET LEASED INVESTMENT OFFERING SITE PLAN N OAD UD R B ROSE ATHENS HIGHWAY www.bouldergroup.com
  8. 8. MAPS NET LEASED INVESTMENT OFFERING MAPS www.bouldergroup.com
  9. 9. TENANT PROFILES NET LEASED INVESTMENT OFFERING TENANT PROFILES Rite Aid (NYSE: RAD) is a national drugstore chain ranked third in the United States by total number of stores. In its stores, Rite Aid sells prescription drugs and an assortment of other merchandise including over the counter medications, a selection of health and beauty aids and personal care products, seasonal merchandise convenience foods, beverages and a large private brand product line. Rite Aid serves customers through over 4,600 stores across 31 states. Rite Aid has approximately 55,000 employees and is headquartered in Pennsboro Township, Pennsylvania. Website: Number of Locations: Stock Symbol: Market Capitalization: Employees: www.riteaid.com 4,623 RAD (NYSE) $4.5 billion 55,000 www.bouldergroup.com
  10. 10. TENANT PROFILES NET LEASED INVESTMENT OFFERING TENANT PROFILES Dollar General Corporation (NYSE: DG) operates as a discount retailer of general merchandise in the southern, southwestern, midwestern, and eastern United States. As of March 2012, Dollar General operated approximately 10,000 stores throughout 40 states. Dollar General offers consumables, home cleaning supplies, packaged food and perishables, beverages and snacks, over-the-counter medicines, personal care products and pet supplies and pet food products. It also provides seasonal products, prepaid cell phones and accessories, automotive supplies and apparel products. Website: Number of Locations: Stock Symbol: Standard & Poor’s Rating: Market Capitalization: Employees: www.dollargeneral.com 10,000+ DG (NYSE) BBB$19 billion 90,000 www.bouldergroup.com
  11. 11. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORT Population Total Population Total Households 3-mi 5-mi 7-mi 43,068 14,160 112,618 37,509 224,910 73,460 $64,053 $77,278 $64,712 $79,614 $63,349 $78,678 Income Median Household Income Average Household Income www.bouldergroup.com
  12. 12. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Loganville is a city located primarily located in Walton County with a small portion of the city located in Gwinnett County, Georgia. The Dollar General property is located in Gwinnett County. Loganville has a population of approximately 11,000. At the time of the 2010 US Census, the population was 83,768. Walton County and Gwinnett County are part of the Atlanta Metropolitan Area. Gwinnett County is the second most populous county in the state of Georgia and at the time of the 2010 US Census, its population was 805,321. www.loganville-ga.gov Atlanta (is the most populous city in Georgia. According to the 2010 census, Atlanta’s population is 420,003. Atlanta is the cultural and economic center of the Atlanta metropolitan area, which is home to 5,268,860 people and is the ninth largest metropolitan area in the U.S. Today, the city is a major business city and the primary transportation hub of the Southeastern United States (via highway, railroad, and air), with Hartsfield–Jackson Atlanta International Airport being the world’s busiest airport by passenger traffic and number of landings and take-offs since 2005, serving 89 million passengers per year. The World Cities Study Group at Loughborough University rated Atlanta as a “Global City.” With a gross domestic product of US$270 billion, Atlanta’s economy ranks 15th among world cities and sixth in the nation. Atlanta contains the country’s fourth largest concentration of Fortune 500 companies, and more than 75 percent of Fortune 1000 companies have business operations in the metropolitan area. Metro Atlanta is the world headquarters of corporations such as The Coca-Cola Company, Turner Broadcasting, The Home Depot, AT&T Mobility, UPS, and Delta Air Lines. www.atlantaga.gov www.bouldergroup.com
  13. 13. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road, Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com

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